Archived Puerto Rico is now in default. Will the US bail them out? (money.cnn.com)
submitted ago by theverza
Posted by: theverza
Posting time: 4.6 years ago on
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Archived on: 2/12/2017 1:51:00 AM
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Archived Puerto Rico is now in default. Will the US bail them out? (money.cnn.com)
submitted ago by theverza
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[–] MaFishTacosDaBombBro 0 points 1 point 1 point (+1|-0) ago
This is what happens when you don't pay your bills, people. I think Puerto Rico deserves everything they have coming to them. 'Wall Street' didn't do this to them. They did this to themselves with horrible money management and their idea that selling debt to anyone who would buy it was a good idea. Even when they used more debt with higher interest rates to get them out of old debt they were already in. This is akin to getting a new credit card to pay off the interest payments from all your other credit cards, never expecting to pay any of it back.